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by regulation under the legislation, and then we have e.u. sanctions. >> right. >> and, indeed, sanctions that other people follow that are mandated by the security council. the e.u. seems to be, on this issue, potentially more flexible than we are. and so there is operating room there. there is operating room in not putting more sanctions on that could be helpful as an initial step. and, obviously, that would be important. each one of these the president would have to explain that he's getting value. that the europeans could take sanctions off central banks and petroleum, for example. that we could do things that i think are absolutely necessary. we have had a longstanding policy of not sanctioning food and medicine for good reasons. and when i was in the security council, the first sanctions on iraq after their invasion of kuwait we made it scrupulously careful. that got all screwed up in oil for food. and i don't want to spend time here talking about that, but -- >> many. [inaudible] >> that was a perfect example of how things could go wrong. but the fundamental basis was the right bas
. begich: i ask time to make 23450eu my statement as required. the presiding officer: the senator has that right. mr. begich: mr. president, let me -- i came down to speak on violence against women act but before i do that i want to -- i appreciate my friend from indiana. we all want to get this budget under control. we all recognize we have to get this under control not only for today's generation but for multiple generations to come. in the last few years we've been a table to take out almost $2 trillion of our budgetary costs over the next ten years for cuts that we have been able to accomplish in a bipartisan way here but led a lot by this side here. but let me rind re-mind folks why we are. four years ago this economy was flat on its back, an economy that didn't have any air in it, it was in grave situation, but where are we today? we have a five-year housing starts, incredible activity within the automobile industry, again, record high sales going on there, the market, the stock market has doubled in the last 4 1/2 years. most recently the c.b.o., congressional budget office whi
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